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Dollar falls against most Aslan units
HONG KONG, Dec 22: The US dollar fell against most Asian currencies last week, reversing recent gains, reports AFP.
The greenback only gained against the Taiwan dollar. Australian dollar and the Malaysian ringgit.
Japanese yen: Up 0.73 yen to close the week at 123.05 to the US dollar, from the previous week's finish of 123.78.
After opening the weekend at 123.84 yen to the greenback. the Japanese currency, ended Monday at the week's closing low of 123.88. The closing high was 123.05 marked Friday.
Trading was lackluster in the absence of fresh incentives with various economic data and US President-elect Bill Clinton's press conference failing to affect the market, dealers said
•Mtb Keresa wwt UP 1.4
won at 788.80 to the US dollar at Saturday's clpse. compared with 790.20 previously.
Dealers said the US dollar weakend as its supply outstripped demand witfran average daily arrival from foreign brokerage firms of 15 million dollar for investment In Seoul's stock market.
Taiwan dollar: Down 0.20 Taiwan Cents to close Friday at 25.467 to the US dollar, from the previous week's finish of 25.465.
The local unit finished mixed against major European currencies, closing at 40.10 to the British pound against 39.63 the previous week, at 4.76 to French franc against 4.72. and at 16.28 to German mark against 16.12-
Singapore dollar: Up slightly to close Friday at 1.6385 to the US dollar against last week's level of 1.6405 dealers ■aid trading was very thin.
Hong Kong dollar: Up at 7.735 7.736 to the US dollar, against the previous weeks close of 7.7423-7.7433. The effective exchange rate index Friday was 114330, down 0.10 from Thursday.
Australian dollar: Down slightly to close the week Friday at 69.06 US cento from 69.11 previously.
Dealers expect the currency to trade between 68.90 and 69.25 before the Christmas break.
New Zealand dollar: Up 0.23 cents to close Friday worth 51.93 US cents compared with its close last Friday of 51.70.
The Kiwi fluctuated during the week on its trade weighted Index, which compares it with the currencies of the county's main trading partners, and on Tuesday the reserve bank moved io shore up the currency.
Malaysian ringgit: Down
sharply to finish At 2.5807 to the US dollar from 2.5458 previously.
Dealers attributed the lower ringgit to aggressive greenback buying by banks to cover their positions or repatriate funds home. More than one billion US dollar changed hands over the last week, they said.
Thai baht: Up three satangs to close Friday at a mid-rate of 25.43 baht to the US dollar, compared to last week's close of 25.46.
Philippine peso: Up al 25.370 to the US dollar Friday, from 25.411 previously.
The peso's appreciation would have been faster had the central bank not stepped in lo buy dollar, bank treasurers said
Indonesian rupiah: Unchanged on last week's rale of 2.059 rupiah to the US dollar. It started the week trading at 2.060.